Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells $15,145.35 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 2,055 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $7.37, for a total value of $15,145.35. Following the transaction, the chief executive officer now directly owns 3,226,797 shares in the company, valued at approximately $23,781,493.89. This represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ali Kashani also recently made the following trade(s):

• On Tuesday, March 11th, Ali Kashani acquired 3,000 shares of Serve Robotics stock. The shares were purchased at an average price of $6.85 per share, for a total transaction of $20,550.00.
• On Thursday, February 27th, Ali Kashani sold 3,713 shares of Serve Robotics stock. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73.
• On Monday, January 6th, Ali Kashani sold 37,500 shares of Serve Robotics stock. The shares were sold at an average price of $21.16, for a total transaction of $793,500.00.
• On Friday, January 3rd, Ali Kashani sold 7,500 shares of Serve Robotics stock. The stock was sold at an average price of $17.23, for a total transaction of $129,225.00.
• On Thursday, December 26th, Ali Kashani sold 7,500 shares of Serve Robotics stock. The stock was sold at an average price of $16.50, for a total value of $123,750.00.
• On Tuesday, December 24th, Ali Kashani sold 5,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.55, for a total value of $72,750.00.
• On Friday, December 20th, Ali Kashani sold 2,500 shares of Serve Robotics stock. The shares were sold at an average price of $14.70, for a total value of $36,750.00.

Serve Robotics Stock Performance

Shares of NASDAQ SERV opened at $7.01 on Friday. The company has a market capitalization of $399.00 million and a PE ratio of -5.84. The company’s fifty day moving average price is $13.34 and its 200 day moving average price is $11.53. Serve Robotics Inc. has a 1 year low of $1.77 and a 1 year high of $24.35.

Analyst Ratings Changes

Separately, Northland Securities set a $23.00 target price on shares of Serve Robotics in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Serve Robotics currently has an average rating of “Strong Buy” and a consensus target price of $19.50.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds have recently modified their holdings of SERV. Jefferies Financial Group Inc. raised its holdings in Serve Robotics by 30.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company’s stock worth $232,000 after purchasing an additional 4,000 shares during the period. Two Sigma Investments LP acquired a new position in shares of Serve Robotics during the 4th quarter worth approximately $815,000. Tidal Investments LLC lifted its position in shares of Serve Robotics by 57.6% during the 4th quarter. Tidal Investments LLC now owns 51,846 shares of the company’s stock valued at $700,000 after buying an additional 18,948 shares in the last quarter. Man Group plc acquired a new stake in Serve Robotics in the 4th quarter valued at $467,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Serve Robotics in the 4th quarter worth $431,000.

Serve Robotics Company Profile

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.